The purpose of this article is to provide a detailed guide for entrepreneurs and companies interested in registering their business with the Park of Innovative Technologies. We will look at the key benefits the park offers, the process of company registration, and the services and support available to residents.
Overview of the Innovative Technology Park
Known as the Innovation Technology Park, or PIT for short, this centre was established on 1 October 2003 as part of the Republic of Kazakhstan's ambitious efforts to develop its innovation economy and strengthen its role in the international high-tech community.
Located in the Alatau village of Medeu district of Almaty and adjacent areas of Almaty region, the Innovation Technology Park occupies a strategic and unique location, emphasising its importance in the scientific and technological progress of the region. This location was not chosen by chance, given its proximity to the largest scientific, educational and cultural centre of Kazakhstan - the city of Almaty. This location provides the park with access to qualified personnel, scientific research and potential partners in the form of universities, research institutes and technology companies.
Frizone occupies a vast territory of 163.02 hectares, which allows the Park of innovative technologies to provide companies with enough space to develop and implement their projects. The territory of this complex combines both already erected office premises and laboratories, as well as plots of land intended for future construction initiatives.
The main objective of the Innovative Technologies Park is to support progress and application of the latest technical solutions in the leading sectors of the economy. These sectors include information and communication technologies, communications, electronics, device manufacturing, alternative energy sources, resource conservation, efficient management of natural resources, development and use of innovative materials, as well as oil and gas production, transport and processing processes.
To achieve these goals, the Park of innovative technologies offers companies a unique infrastructure and favourable conditions for research, development and commercialisation of innovations. The infrastructure of the special zone is designed to support the full cycle of innovation activities - from research and development to commercialisation of products. The park is equipped with advanced office space, laboratories, production and storage areas, and offers recreational and business meeting facilities. In addition, social amenities, including cafeterias, restaurants and sports centres, are located within its boundaries, providing a cosy working and leisure environment for employees of resident companies.
Additionally, the Park aims to deepen the integration of Kazakhstan's economy into the international economic system. This includes not only developing internal innovation initiatives, but also attracting foreign investors and technology firms to jointly implement global projects.
Due to its location close to the city of Almaty, the Park has excellent transport accessibility. Major motorways pass nearby, providing convenient connections to the city, airport and other key facilities in the region. This facilitates logistics and makes Park of innovative technologies an attractive business location for both local and foreign companies.
Since its foundation, the Park of Innovative Technologies has established itself as a key element in Kazakhstan's technological advancement, contributing to the growth of innovation within the country. It continues to expand its boundaries, attracting new start-ups, research groups and international companies in an effort to realise its ambitious goals and contribute to the global technology community.
Advantages of registering a company in FEZ "Park of Innovative Technologies"
Registering a company in the Park of innovative technologies zone provides a number of significant advantages that can facilitate the growth and development of high-tech businesses.
Tax exemptions and preferences
One of the main advantages for companies registered in the Innovative Technology Park is the opportunity to take advantage of tax benefits and preferences. Among them:
- Exemption from corporate income tax, which allows enterprises to reinvest savings into the development of their business.
- Zero rate of value added tax (VAT) on imports of equipment, components and specialised technological equipment required for the implementation of a project in the FEZ.
- Customs duty exemptions on imported equipment and materials, which reduces the initial costs of launching and developing projects.
- Reduced rates on other taxes and levies, which creates a more attractive financial environment for investors and entrepreneurs.
Access to park infrastructure and resources
Park residents have access to advanced infrastructure and resources that include:
- High-speed internet and the latest communication solutions to ensure uninterrupted work and communication.
- Ready-made production and office space adapted to the needs of high-tech companies at the Park of innovative technologies.
- Laboratories and research facilities equipped with the latest technologies to create and test innovative products and processes.
- Warehouse and logistics centres to facilitate the storage and transport of goods.
Opportunities for co-operation and investment
FEZ "Park of Innovative Technologies" actively promotes the creation of a network of contacts between residents and potential investors, and facilitates cooperation with scientific organisations and educational institutions. This includes:
- Participation in international and regional exhibitions, conferences and forums, which helps promote products and services to new markets.
- Access to a network of venture capital funds, business angels and government grants, which increases the chances of obtaining funding to scale the business.
- Co-operation with universities and research institutes to implement joint projects, share knowledge and train qualified personnel.
These advantages make the FEZ "Park of innovative technologies" an attractive platform for start-ups and established companies seeking innovation and technological development. Establishing a company in the "Park of innovative technologies" opens the doors to the global technological community, providing unique opportunities for growth and development in the dynamically changing world of high technologies.
The process of company registration in the Park of innovative technologies
Registering a company in the Park of Innovative Technologies is a multi-step process that requires careful preparation and attention to detail. Below is a detailed overview of the steps required to successfully establish a company in this FEZ.
Preliminary research and preparation
Before starting the registration process, it is important to conduct a thorough research on the requirements and conditions for Park residents. This includes researching tax incentives, infrastructure utilisation rules, and project selection criteria. At this stage, it is also recommended to define a business model and development plan for your project that is consistent with the Park's goals and activities.
Preparation of documentation
To apply for registration, you must prepare a set of documents, which usually includes:
- Application for registration of the company in FEZ "Park of Innovative Technologies".
- Business plan of the project with calculations of economic efficiency and expected results.
- Documents confirming the legal status of the company (charter, registration certificate, information about managers and founders).
- Evidence of financial stability and availability of necessary investments for project realisation.
- Description of the technological process, innovative products or services.
Submission of application and documents
Once all the necessary documents have been prepared, you should submit them to the Park management company or the relevant authority responsible for registration of FEZ residents. It is important to make sure that all documents are prepared correctly and fully comply with the requirements.
Project Expertise
After submitting the documents, the project is subjected to an expert review to assess its innovation potential, technological and economic feasibility, and compliance with the Park's goals and objectives. At this stage, it may be necessary to provide additional information or clarify certain aspects of the project.
Obtaining residency status
In case of a positive result of the expertise, the company receives the status of a resident of the FEZ "Park of Innovative Technologies". From that moment on, the company is entitled to all benefits and preferences provided by the Park and can start implementing its project on its territory.
Feasibility study requirements for a BMS participant
The feasibility study for BMS includes:
- introduction,
- a brief overview of the project,
- a full project description,
- marketing plan,
- production plan,
- financial calculations,
- appendices.
The introduction analyses the socio-economic context and objectives of the project. A brief overview highlights its feasibility, key elements, funding sources and timeline. The full description covers products, organisational structure, economic performance, team and environmental safety. The marketing plan explores demand and promotional strategies. The production plan details the manufacturing process and resources. The financial section evaluates costs, revenues and risks. Appendices provide additional data to support the rationale.
Information on the cost of utility tariffs in the Park of Innovative Technologies
A comprehensive understanding of the cost of utility rates and other aspects of operations is key to successful business operations at Park of Innovative Technologies. These factors affect companies' operating costs and their overall cost effectiveness.
Cost of tariffs for public utilities
- The tariff for water supply is 136.37 tenge per cubic metre.
- The tariff for sewerage services is 46.97 tenge per cubic metre.
- The cost of heat supply is 27,095.43 tenge per cubic metre, which reflects the cost of centralised heating and the need to maintain an optimal microclimate in the premises for technological equipment and employee comfort.
- The electricity tariff is set at 15.9 tenge per kilowatt hour. This is critical for companies whose operations require significant energy consumption, including the operation of servers, laboratory equipment and production facilities.
Other important aspects of operation
Park of Innovative Technologies provides companies with access to modern infrastructure, including communication networks, roads, warehousing and production facilities. Investment in infrastructure reduces the initial costs for companies to organise their space.
The entire freezone provides a high level of security with 24/7 security, CCTV and access control systems. This minimises business risks and protects companies' intellectual property and tangible assets.
For the convenience of companies, the Innovative Technology Park special zone provides logistics and transport services to facilitate the delivery of materials and finished products. This includes warehousing facilities as well as packaging and shipping services.
YB CASE offers professional support services at all stages of company registration in the Park of Innovative Technologies. YB CASE specialists have in-depth knowledge and experience in the field of corporate law, tax planning and project management, which allows them to effectively solve the problems associated with doing business in specialised economic zones.
The services provided include detailed advice on the registration and operation of a business in a given SEZ, preparation of the necessary package of documents, as well as support at the application stage and during the process of obtaining resident status. In addition, YB CASE offers advice on optimising tax liabilities and using the benefits and preferences provided by the Park.
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